Pepper Prices Surge in Brazil and Vietnam

Black Pepper prices during the week increased by US $ 650 pmt for the machine dried variety in Brazil from US$ 6450 fob from last week end and at close of today to $ 7050 fob.Offers  for 570 Asta grade was not easily available and local prices in Vietnam increased rapidly in the last two days with very little Chinese buying and local prices moved from 140,000 Vietnam Dongs per kilo to 150,000 Vietnam Dongs per kilo.Vietnam is closed for Independence Day celebrations and will reopen only on Wednesday and Chinese  at door step entire sellers turned bullish and expect exporters who have started panicking will end up paying higher prices on Wednesday when the market reopens after holidays . Importers who were bottom fishing have no other alternative to come to the shore and pay the asking price of sellers.